Africa’s Top 5 Richest People in Q4 2024

Over the first three quarters, Africa’s top richest people saw a shift in net worth due to various factors like market conditions, inflation, and currency fluctuations. By the fourth quarter of 2024, a new ranking of the top 5 richest people in Africa has emerged. 

This list reflects the significant wealth of these individuals, highlighting both the growth and challenges they’ve experienced throughout the year.

According to Bloomberg’s Billionaire Index, these five billionaires remain the wealthiest people on the continent, shaping industries like luxury goods, mining, oil, and manufacturing. Below are the top richest Africans in Q4 2024.

Johann Rupert – $13.9 billion (South Africa)

Johann Rupert, a South African businessman, tops the list in Q4 2024 with a net worth of $13.9 billion. His wealth has grown significantly throughout the year, showing a year-to-date increase of $1.48 billion. Rupert is known for his luxury goods company, Richemont, which owns famous brands like Cartier and Montblanc. Despite a turbulent global economy, his businesses have remained strong, helping him secure the 168th position globally among the world’s wealthiest individuals.

Aliko Dangote – $12.7 billion (Nigeria)

Nigeria’s Aliko Dangote, the richest man in Africa for many years, is now second on the list with a net worth of $12.7 billion. Dangote is the owner of the Dangote Group, which has interests in cement, sugar, and most recently, oil. This year was a mixed bag for Dangote. He successfully launched his oil refinery, a major milestone in his career, but due to Nigeria’s challenging economic conditions, including inflation and a weakening currency, his net worth dropped by $2.42 billion. Despite these challenges, he remains a key player in Africa’s business landscape, holding the 190th position globally.

Nicky Oppenheimer – $11.4 billion (South Africa)

Coming in third is Nicky Oppenheimer, also from South Africa, with a net worth of $11.4 billion. Oppenheimer made most of his wealth in the diamond industry, primarily through De Beers, which his family once owned. He sold the family’s stake to Anglo American in 2012 but continues to invest in various sectors. His fortune has grown by $1.55 billion in 2024, placing him 223rd on the global wealth ranking.

Nassef Sawiris – $9.54 billion (Egypt)

Nassef Sawiris, an Egyptian businessman, holds the fourth position with a net worth of $9.54 billion. He is part of the famous Sawiris family and is involved in industries such as construction, fertilizers, and sports. Sawiris has investments in companies like Adidas, and his wealth has increased by $1.13 billion in 2024. He is ranked 289th globally. Sawiris’s success shows the importance of diversification, as his wealth comes from both African and global ventures.

Natie Kirsh – $9.22 billion (South Africa)

Rounding off the top five is Natie Kirsh, another South African billionaire, with a net worth of $9.22 billion. Kirsh’s fortune has grown by $1.61 billion this year. He is primarily involved in retail and property investment, with significant operations in the U.S. and the U.K. His company, Jetro Holdings, focuses on wholesale grocery businesses, and Kirsh is now ranked 300th in the world.